Shasha Denims Limited (IPO) Subscription Date Start from December 14, 2014

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The Company produces a single product ‘denim fabrics’ of varied specifications, compositions, color and qualities. Shasha Denims Limited (IPO) share of the money collected will be 45 Core. This company IPO subscription will be started from December 14, 2014 and will be closed on December 21, 2014. For NRB applicants, it will remain open till December 30, 2014. The face value of TK 10 per share value of company and offer price is TK.35 including a premium of taka 25. This ipo taka use of refinancing, SELL ANNUITY PAYMENT, free debt consolidation, mortgage leads & other expenses for primary share.  This company share issue manager responsible for AFC Capital Limited and Imperial Capital Limited. Last financial year shows the EPS Taka 3.10 & Net asset value per share (NAV) taka 44.13. This Company Quantity of Share per lot 200.

Stocks inch up amid choppy trading

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Stocks inched up Thursday amid choppy trading with turnover dipping below Tk 3.0 billon-mark on the major bourse after four months as investors followed cautious stance due to lack of clear direction.

The market opened with a positive mood which continued until the market closed. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 15.94 points or 0.33 per cent to close the week at 4,772.55 points.

The DS30, comprising blue chips, advanced 8.81 points or 0.50 per cent to close at 1,760.89 points. However, the DSE Shariah Index dropped 1.84 points or 0.16 per cent to close at 1,106.85 points.

Trading at DSE remained dry and amounted to Tk 2.63 billion, registering a decline of 15.70 per cent over the previous session's Tk 3.12 billion. It is more than four-month low from Tk 2.63 billion since July 20.

The investors' attention was mostly focused on pharma, power and engineering - the sectors that account for 17 per cent, 14 per cent and 13 per cent respectively of the day's total turnover.

 "Market ended the day with a positive note, but turnover activity indicates that investors are still remaining cautious and observing market movement from the sidelines," said LankaBangla Securities in an analysis.

Among the major news, US oil and gas giant Chevron is eyeing to invest more in oil and gas exploration activities in Bangladesh to meet the country's mounting energy demand, said the stock broker.

IDLC Investments said: "Combined with heightened volatility and low turnover, closing session of the week ended flat".

Meanwhile, bright economic future of Bangladesh is further enforced, with Asian Development Bank (ADB) and Chevron's signals of sizeable investments in coming days, the merchant bank said.

Besides, recent clarification of Bangladesh Merchant Bankers Association (BMBA) relating to its proposals helped the market to stabilise, for now, the merchant bank added.

 "The market bounced back from previous day's setback and delivered a positive session amidst the investors' optimistic attitude in bank sector," said International Leasing Securities.

However, the steady decline in overall market's participation retreated most of the investors' confidence about the current market scenario, said the International Leasing.

Following the previous day's positive note, food and allied sector registered the highest gain across all sectors with 3.55 per cent - thanks to the heavy weight BATBC being 4.8 per cent up.

Banks and pharmaceuticals appreciated by 0.41 per cent and 0.15 per cent respectively. Telecommunication edged up by slightly 0.05 per cent. Fuel and power retraced by 0.74 per cent and NBFIs closed flat in red with 0.03 per cent loss.

The gainers took a lead over the losers as out of 302 issues traded, 162 declined, 105 advanced and 35 remained unchanged on the DSE floor.

Activities decreased in the major bourse where trade and volume were down by 10.45 per cent, and 12.16 per cent respectively. A total of 0.066 million trades were executed with trading volume of 65.62 million securities.

The total market capitalisation on the DSE stood at Tk 3,154.54 billion against Tk 3,146.72 billion in the previous session.

Keya Cosmetics was the most traded stock with shares worth Tk 119.12 million changing hands followed by Beximco, Square Pharma, Western Marine Shipyard and Summit Alliance Port.

Kohinoor Chemical was the day's highest gainer, posting a rise of 7.54 per cent while Khan Brokers PP Woven Bag was the day's worst loser, slumping by 6.34 per cent.

The port city bourse, Chittagong Stock Exchange (CSE), also closed almost flat in positive with its Selective Categories Index - CSCX - gaining 3.87 points to close at 8,952.62 points.

Gainers beat losers 190 to 86, with 33 issues remaining unchanged at the port city bourse that traded 6.76 million shares and mutual fund units, with turnover value of Tk 227.75 million.

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Asia shares hit 1-month high

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TOKYO, Nov 27 (Reuters): Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.3 per cent while Shanghai shares hit a three-year high, extending their rally after a surprise interest rate cut last week. They are up 8.2 per cent so far this month.

"The rate cut clearly showed the Chinese authorities are very much keen to support the economy. So even though Chinese economic data has been pretty weak, investors are convinced that there will be no hard landing," said Naoki Tashiro, the president of TS China Research.

Japan's Nikkei shed 0.8 per cent as the yen rebounded mildly but has gained 5.1 per cent so far this month to become the second best performing market in the region after China following a surprise easing by the Bank of Japan at the end of October.

European shares are expected to rise with spreadbetters projecting 0.4 per cent gains in France's CAC 40 and 0.3 per cent rise in Germany's DAX, which advanced for a 10th straight session on Wednesday, as investors bet on further monetary stimulus from the European Central Bank.

"I expect a moderate (equities) rally to continue, perhaps led by European shares given signs of recovery there," said Soichiro Monji, chief strategist at Daiwa SB Investments.

On Wall Street, stocks rose on Wednesday thanks to gains in tech shares, with the S&P 500 and Dow industrials closing at records despite disappointing US economic data.

Durable goods orders, a measure of business spending plans, fell for a second straight month, consumer spending rose less than expected and new home sales also unexpectedly fell.

A separate report from the Labor Department showed initial claims for state unemployment benefits last week were above 300,000 for the first time since early September.

All of which helped push down US debt yields, with 10-year notes yield hitting a five-week low of 2.229 per cent on Wednesday.

The dollar stepped back further from a 4-1/2-year peak against a basket of currencies hit on Monday. The dollar index stood at 87.634 versus Monday's peak of 88.440.

The US currency fetched 117.28 yen, off last week's seven-year high of 118.98 yen while the euro traded at $1.2501, having extended its recovery from a low of $1.23595 on Monday.

Still, the common currency is likely to be hemmed in by expectations that the ECB could start buying sovereign debt, as other major central banks have done.

Vitor Constancio, the central bank's vice president, said on Wednesday the ECB might decide to do so as early as the first quarter of next year, in the clearest indication yet from an ECB policymaker on the timing of any quantitative easing.

He also suggested the ECB is likely to buy government bonds broadly in proportion to the size of the euro zone's 18 economies.

While many markets saw subdued trading on Thursday as US financial markets are shut for Thanksgiving Day, oil markets were rattled after OPEC signaled that it would hold off making any major production cuts this week.

European shares inch up

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PARIS, Nov 27 (Reuters): European shares inched higher on Thursday, extending recent sharp gains, helped by growing expectations of further stimulus measures from the European Central Bank.

At 0808 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 per cent at 1,390.40 points.

Auto and industrial chipmaker Infineon fell 1.7 per cent after posting results that missed analyst forecast.

Infosys hits fresh record high on NSE

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MUMBAI, Nov 27 (Business Standard): Shares of Infosys have moved higher and hit a fresh record high of Rs 4,363 in trade on National Stock Exchange (NSE) ahead of record date for bonus issue in ratio of 1:1.

At 1116 hours, the stock was up 1.18 per cent at Rs 4,351 on the NSE. It opened at Rs 4,322 and touched low of Rs 4,312 in trade so far.

"The company has fixed Record Date as December 3, 2014 for the purpose of allotment of bonus shares / stock dividend", Infosys said in a statement on November 21.

The board of directors of the company at its meeting held on October 10, 2014 had recommended a bonus issue of one equity share for every equity share held.

Since then, the stock has rallied 20 per cent from Rs 3,646 on October 9, as compared to about 7 per cent rise in the benchmark CNX Nifty.

Ifad Auto Ltd. (IPO) Subscription Date Start from November 23, 2014

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Ifad Auto Limited (IPO) share of the money collected will be 63 Core 75 lac. This company IPO subscription will be started from November 23, 2014 and will be closed on November 27, 2014. For NRB applicants, it will remain open till December 06, 2014. The face value of TK 10 per share value of company and offer price is TK 30 including a premium of taka 20.This company ipo tk use of Business spread, Bank loan payment and some amount expanses of ipo portion. This company share issue manager responsible for Banco Finance & Investment Limited and Alpha Capital Management Limited. Last financial year shows the EPS Taka 5.16 & Net asset value per share (NAV) taka 27.29. This Company Quantity of Share per lot 200. Total quantity of share: 21,250,000.

Dow, S&P 500 end at records after US data, Intel outlook

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NEW YORK, Nov 21 (Reuters): The Dow and S&P 500 finished at record highs on Thursday as data showed further strength in the US economy and Intel gave an upbeat forecast.

Tech shares gave the market its biggest lift, along with energy. Boosting all three major indexes, Intel shares jumped 4.7 per cent to $35.95, hitting their highest level since January 2002, after its 2015 revenue outlook was above Wall Street's expectations and the company raised its dividend.

The S&P technology index rose 0.6 per cent, while the energy index gained 1.1 per cent.

Further supporting stocks, data showed factory activity in the US mid-Atlantic region grew at its fastest pace in two decades, US home resales jumped to their highest in more than a year in October, and a gauge of future US economic activity gained. Growth in the economy and earnings should bode well for stocks heading into next year, said Margaret Patel, senior portfolio manager at Wells Capital Management.

"Next year will be a reasonable to maybe a surprisingly good year," she said. "(There is) no reason in the world why we can't see P/Es expand." Patel said stocks could rise by a mid single-digit to high-teens per centage next year.

The Dow Jones industrial average rose 33.27 points, or 0.19 per cent, to 17,719, a record close. The S&P 500 gained 4.03 points, or 0.2 per cent, to 2,052.75, its 44th record high this year.

The Nasdaq Composite added 26.16 points, or 0.56 per cent, to 4,701.87.

The Philadelphia Fed area "isn't a hub of industrial activity anymore but it's still important and it's strong," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group.

The upbeat US data offset weakness overseas, including euro zone business growth that was slower than expected this month.

Best Buy added 7 per cent to $38.02, among the S&P's largest per centage gainers, after better-than-expected profit.

Among the top Nasdaq decliners was Keurig Green Mountain, down 7.4 per cent at $142.50, a day after it forecast fiscal first-quarter profit below analysts' estimates.

After the bell, Gap shares fell 4.9 per cent to $38.19 following its results. Gap shares ended the regular session up 1.5 per cent

S&P 500, Dow end at record highs

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NEW YORK, Nov 19 (Reuters): The Dow and S&P 500 closed at record highs on Tuesday, lifted by further gains in healthcare shares and hopes for a stronger global economy.

The S&P 500 scored its fourth straight day of gains.

Actavis Plc, Gilead Sciences and other biotechs were among the biggest drivers, a day after Allergan agreed to be bought by Actavis. The Nasdaq biotech index rose 2.1 per cent.

The S&P health care index added 1.6 per cent. Shares of Actavis were up 8.7 per cent at $269.60, helped by bullish analyst notes, while Gilead's stock rose 3.3 per cent to $103.71 per cent.

"A little bit of a risk trade is coming back on, and those are the areas for the M&A," said Uri Landesman, president of Platinum Partners in New York. "It's a very, very good environment to buy growth, so I don't quibble with the notion that there's going to be more M&A."

Among the biggest boosts to the Dow, shares of UnitedHealth were up 1.8 per cent at $98.19.

Further supporting stocks, news of a snap election and a delayed tax increase in Japan strengthened hopes for new stimulus, a day after data showed Japan back in recession. In Europe, German analyst and investor sentiment advanced this month for the first time in almost a year.

Stocks see marginal loss

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Dhaka stocks Sunday ended the session with a marginal loss as the major sectors failed to contribute significantly.

The day's turnover, however, remained steady with a fair volume of participation.

Market opened the week on Dhaka Stock Exchange (DSE) with a positive note gaining about 30 points in the first 45 minutes of the session. However, the market could not sustain the positive movement and closed in red.

The benchmark index DSEX shed 0.41 per cent or 20.56 points to close at 4963.90 points. The other two indices DSE Shahriah Index (DSES) and DS30 also closed in red by losing 0.66 per cent and 0.40 per cent respectively.

At the end of the day's session, the turnover value stood at Tk 7.53 billion, which was up by 8.4 than the value observed in previous session.

The market insiders said the market moved into red zone following a sell pressure observed from the participants.

Among 303 traded issues, 113 advanced, 156 declined and the remaining 34 remained unchanged.

Among the major sectors, the NBFIs witnessed the highest loss of 1.07 per cent whereas the Telecommunications and Pharmaceuticals went down by 0.74 per cent and 0.25 per cent respectively.

DESCO was the most traded stock, which went up by 9.6 per cent, of the session with a turnover worth Tk 687.0 million.

Among other sectors which contributed in Sunday's session, Power registered a gain of 1.06 per cent, Food & Allied 0.41 per cent and Banks 0.09 per cent.

The chart of day's top ten gainers included Sonali Ansh, Kohinoor Chemicals, Western Marine Shipyard, Anwar Galvanizing, Pharma Aids, Ambee Pharma, Shahjibazar Power Company, Wata Chemicals, Jamuna Oil and Samorita Hospital.

Orion Infusion topped the chart of top ten losers with a loss of 13.20 per cent.

On the port city bourse-Chittagong Stock Exchange-the benchmark index CASPI shed 42.60 points to close at 15336.18 points.

Among 218 traded issues, 75 advanced, 128 declined and the remaining 15 remained unchanged.

At the end of the day's trading session, the turnover value stood at 515.29 million on the CSE.

On Sunday some corporate declarations were posted on the website of the premier bourse-- DSE.

The Board of Directors of Kohinoor Chemicals has recommended 25 per cent stock dividend for the year ended on June 30, 2014.

The board of directors of Orion Infusion has recommended 15 per cent cash dividend for the year ended on June 30, 2014.



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Top 7 Sensex cos add Rs 368.40b in m-cap

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NEW DELHI, Nov 16 (PTI): Seven of the top 10 Sensex companies added a total Rs 368.40 billion to their market valuation last week which saw the indices touching life time highs on continued FII inflows.

FMCG giant ITC was the biggest gainer among top 10 companies with an addition of Rs 100.16 billion to its market capitalisation (m-cap) that stood at Rs 2938.49 billion at close on Friday last.

Coal India's market valuation moved up by Rs 74.53 billion to Rs 2251.78 billion, while HDFC Bank added Rs 73.17 billion to Rs 2244.23 billion.

The m-cap of TCS jumped Rs 63.66 billion to Rs 5104.45 billion, while that of SBI moved up by Rs 34.41 billion to Rs 2081.78 billion.

Stocks see marginal correction

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The market saw marginal correction Thursday after two session's gain with turnover dipping below Tk 7.0 billion-mark again as investors booked some profit.

The market opened with an upward trend, but could not sustain as the session progressed. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) dipped below 5,000-mark again and closed at 4,984.46 points, shedding 21.19 points or 0.42 per cent.

The other two indices also edged lower. The DS30, comprising blue chips dropped 10.78 points or 0.57 per cent to close at 1,860.15 points. The DSE Shariah Index declined 5.47points or 0.46 per cent to close at 1,174.54 points.

The total turnover on DSE dropped to Tk 6.94 billion, registering a decline of 17.96 per cent over the previous day's turnover of Tk 8.46 billion.

The investors' attention mostly focused on engineering, pharma and power - the sectors that accounted for 17.08 per cent, 17 per cent and 16 per cent respectively of the day's total turnover.

"The investors' sell-off was observed across the major sectors as most of them realised their profits amidst the market's negative vibe," said the International Leasing Securities in an analysis.

"Market took some correction as index is yielding to profit booking pressure," said LankaBangla Securities.

Earnings upgrade continued to support the market, whereas profit taking on engineering, cement, pharma, and telecommunication stocks discouraged the positive vibe of early session, said the stock broker.

"While market struggled to remain positive, waves of sell pressure beat it down, causing to close flat," said IDLC Investments.

Volatility was prominent, like previous three sessions as investors continued preferring micro cap stocks. Consequently, 67 out of 297 traded stocks posted 2.0 per cent price change, said the merchant bank.

The port city bourse, Chittagong Stock Exchange (CSE) also saw a marginal correction with its Selective Categories Index - CSCX - lost 43.58 points to close at 9,371.12 points.

Losers beat gainers 121 to 81, with 24 issues remaining unchanged at the port city bourse that traded 12.72 million shares and mutual fund units, turnover value of Tk 503.09 million.


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HK shares close up

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SHANGHAI, Nov 13 (Reuters): Hong Kong shares rose on Thursday, lifted by consumer and casino shares and buttressed by financials.

The HSI index rose 81.76 points, or 0.34 per cent, to 24,019.94, while the Hong Kong China Enterprises Index gained 71.15 points, or 0.66 per cent, to 10,800.91.

Among the most active stocks in Hong Kong were Bank Of China , up 0.52 per cent to HK$3.86 per share; CCT Land Holdings Ltd, unchanged at HK$0.01 per share and Icube Technology Holdings Ltd, down 9.15 per cent to HK$0.13 per share.

Key index crosses 5,000-mark again

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Stocks witnessed a robust gain Wednesday with key index of the major bourse crossing the 'psychological' threshold of 5,000-mark again as the investors went for buying spree amid optimism.

The market opened with an upward trend which sustained throughout the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE) crossed the 5,000-mark after three sessions and closed at 5,005.65 points, gaining 70.87 points or 1.43 per cent.

The other two indices also saw steep gain. The DS30, comprising blue chips jumped 48.17 points or 2.64 per cent to close at 1,870.94 points. The DSE Shariah Index rose 23.35points or 2.01 per cent to close at 1,180.02 points.

Trading at DSE remained vibrant with total turnover accumulating to Tk 8.46 billion, registering an increase of 26.64 per cent over the previous day's turnover of Tk 6.68 billion.

The investors' attention remained focused on power, engineering and pharma - the sectors that accounted for 21 per cent, 20 per cent and 17 per cent respectively of the day's total turnover.

 "Market continued to trade at green zone throughout day and closed above the 'psychological' level of 5,000-mark with strong footing," said LankaBangla Securities in an analysis.

Some encouraging quarterly declarations came, supporting the market and restored confidence of investors after a weeklong correction, said the stock broker.

IDLC Investments said: "Soaring participation, particularly buying mood in mid-cap and micro-cap stocks assisted the upbeat vibe in market".

Investors' preference to some micro caps pushed up the volatility further, with 111 out of 308 traded issues changing more than 2.0 per cent of their respective price, said the merchant bank.

The market peaked up right where it left off in previous session in an attempt to regain the investors' confidence, said International Leasing Securities.

"The investors' growing optimism regarding the market's turnaround was confirmed by the 27 per cent increment of daily turnover," said the International Leasing.

"Market just bounced off and moved up from the bull trend line started from July the 20th. It is starting to appear more as a bump and run reversal pattern," said Sheltech Brokerage.

Zenith Investments said: "Although, there is still room for enough doubt whether market have really changed its course of direction for long run, it is suffice for investors to exercise caution during trading until further confirmation from the market is received".   

Almost all the sectors have recorded gains after a long period of time. Banks saw a correction of 0.58 per cent after previous day's marginal gain. The other large cap sectors closed higher with power registering the highest gain of 3.51 per cent.

NBFIs appreciated by 1.57 per cent. Food and allied and pharmaceuticals also posted decent gains of 1.26 per cent and 1.38 per cent respectively.  Telecommunication advanced by 0.89 per cent.

Gainers outpaced losers as out of 308 issues traded, 171 advanced, 108 declined 29 remained unchanged on the DSE floor.

The port city bourse, Chittagong Stock Exchange (CSE) also witnessed steep gain with its Selective Categories Index - CSCX - advanced 127.30 points to close at 9,414.70 points.

Gainers beat losers 101 to 89, with 34 issues remaining unchanged at the port city bourse that traded 15.35 million shares and mutual fund units, turnover value of Tk 605.32 million.



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Indian shares hit record highs before CPI data

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MUMBAI, Nov 12 (Reuters): Indian shares touched record highs for the second time this week as rate-sensitive stocks such as Axis Bank rose on hopes easing inflation would prompt the central bank to cut interest rates earlier than expected.

Consumer inflation in October, due at 5:30 p.m. (1200 GMT), is expected to have eased to a record low of 5.80 per cent, dragged by sharp drops in food and oil prices, according to a Reuters poll. If the forecast is met, it would also make the central bank's inflation targets - 8 per cent by January 2015 and 6 per cent a year later - appear more attainable.

"The market is expecting inflation to come down very fast. So if the rates are not cut then certainly some momentum will be lost," said Vinod Nair, head of fundamental research at Geojit BNP Paribas Financial Services Ltd.

Indian shares hit record highs before CPI data

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MUMBAI, Nov 12 (Reuters): Indian shares touched record highs for the second time this week as rate-sensitive stocks such as Axis Bank rose on hopes easing inflation would prompt the central bank to cut interest rates earlier than expected.

Consumer inflation in October, due at 5:30 p.m. (1200 GMT), is expected to have eased to a record low of 5.80 per cent, dragged by sharp drops in food and oil prices, according to a Reuters poll. If the forecast is met, it would also make the central bank's inflation targets - 8 per cent by January 2015 and 6 per cent a year later - appear more attainable.

"The market is expecting inflation to come down very fast. So if the rates are not cut then certainly some momentum will be lost," said Vinod Nair, head of fundamental research at Geojit BNP Paribas Financial Services Ltd.

Indian economist against banks' involvement in 'risky businesses' under stock market

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Amiya Kumar Bagchi, a renowned Indian economist, has suggested that banks should not be allowed to be involved in the 'risky businesses' under stock market.

"Ethical banking requires both the ability of bankers to exercise discretion on the one hand and constraints on the freedom of bankers to acquire assets and enter into risky businesses, such as investment in the casino of stock markets on the other hand, Dr. Bagchi said while delivering fourteenth Nurul Matin Memorial Lecture on Ethics in Banking in the capital on Monday night.

He also said these constraints have to be imposed by properly constituted public authorities, especially the central bank and the ministry of finance, working under the oversight of a democratically elected government.

 "Ethical banking requires decentralised relationship banking and strict separation of banks and stock markets, on the lines of the Glass-Steagall Act or the system prevailing in South Asia before 1947," the senior economist noted.

He also said the equivalent of a Glass-Steagall Act should be passed by every country seeking to get on to a path of sustained economic and human development. "The conscious promotion of SMEs by providing them with adequate banking facilities should be part of this strategy."

Professor Nurul Islam, deputy chairman of first Planning Commission of Bangladesh, supporting Dr. Bagchi, said that in Bangladesh there is no need to encourage stock market development now. "Rather we should work to strengthen banking sector to finance long- term development," Dr. Islam said while addressing the occasion as chief guest.

In this connection the renowned economist referred to development experience of East Asia as well as European countries.

The Bangladesh Institute of Bank Management (BIBM) organised the lecture on 'Ethics in Banking' in which the country's eminent economists, bankers and policy makers took part.

AFM Nurul Matin, a reputed banker, was the deputy governor of the central bank of Bangladesh. He played an important role in preparing Bangladesh Bank Nationalisation Ordinance, 1972. He died on February 23, 1978.

Describing success stories of different East Asian countries, Dr. Bagchi said there should be a development banking sector supported and carefully monitored by the government, which should insulate it from political by imposing strict penalties for transgression.

 "….I would argue that developing countries should abandon the model of so-called universal banking, which many of them were persuaded or coerced into adopting by the pressure of domestic and foreign finance companies."

Ethical banking, following the footsteps of Nurul Matin, will require the conscious flouting of Eichmannish norms of behaviour, according to the Indian senior economist. "All countries need a regulatory framework, overseen by a substantive and procedural democratic system (and not one that money can buy), so that every ethical banker is not forced to become a martyr."

Dr. Bagchi is Emeritus Professor, Institute of Development Studies, Kolkata and Adjunct Professor, Monash Asia Institute, Melbourne, Australia.

His contributions have spanned economic history, including the history of banking and finance, the economic of industrialisation and deindustrialisation, and development studies from an overall Marxist and left Keynesian perspective, incorporating insights from other schools of radical political economics.

Bangladesh Bank (BB) Governor Atiur Rahman said  Dr. Bagchi deftly portrays the largely bygone positive trends of relationship based SME, agricultural and industrial financing both in the West and East; side by side with the recent excesses of deregulated financing triggering recent crises in financial and real sectors in many advanced economies.

 "Dr. Bagchi's important contribution challenging the received wisdoms from mainstream deregulated financing orthodoxies resonate very well with our approach in Bangladesh and elsewhere of mainstreaming socially responsible inclusive and environmentally sustainable financing; focused particularly on environmentally benign 'green' output initiatives, including in agriculture and SMEs," the central bank chief noted.

The BB governor presided over the function while Director General of the BIBM Dr. Toufic Ahmad Choudhury delivered the address of welcome.



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BSEC allows United Power to go public under book building

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The securities regulator has given its consent to United Power Generation & Distribution Company Limited (UPGD) to go public under book building method (BBM), after suspending it in January 2011, officials said.

According to another decision of the Bangladesh Securities and Exchange Commission (BSEC), Southeast Bank Limited has been allowed to issue Tk 3.0 billion Subordinate Floating Rate Bond.

However, BSEC has turned down the rights offer proposals of Bangladesh Building System Limited, Central Pharmaceuticals Limited, Mozaffar Hossain Spinning Mills Limited and JMI Syringes & Medical Devices Limited.

The decisions were taken at a commission meeting, held at the regulator office Tuesday.

After the 2010-11 stock market debacle, the government postponed BBM, as the companies allegedly siphoned off a significant amount of money from the stock market through over-pricing.

As per the BSEC approval, UPGD will offload 33 million ordinary shares at an offer price of Tk 72, including a premium of Tk 62 for each Tk 10 share.

The company will raise fund worth above Tk 2.37 billion for redemption of its preference shares, repayment of bank loans, and meeting IPO processing expenses.

Successful institutional investors will get 40 per cent of the offloaded shares, whereas small investors, mutual funds (MFs), non-resident Bangladeshis (NRBs) and general investors will get the remaining 60 per cent shares.

As per the audited financial statement for the year ended on December 31, 2013, the company's earning per share (EPS) and net asset value (NAV) are Tk 5.98 and Tk 23.64 respectively.

LankaBangla Investments is the issue manager and ICB Capital Management is the registrar to the issue.

On the other hand, as per the BSEC approval, Southeast Bank will issue Tk 3.0 billion bond to boost its capital base and fulfill the requirements of Basel-II and Tier-2. The tenure of the bond will be seven years.

The characteristics of the bond are: non-convertible, unsecured and floating rate subordinate. Its yield to maturity/coupon rate will vary from 11.50 per cent to 14.0 per cent, said the BSEC officials.

The offer price of each unit of the bond is Tk 1.0 million. Standard Chartered Bank is the mandated lead arranger and Green Delta Insurance is the trustee of the bond.

Meanwhile, BSEC has ruled out the rights offer proposals of Bangladesh Building, Central Pharmaceuticals and Mozaffar Hossain Spinning, as the companies have not taken enough time after being listed with the exchanges.

The regulator has rejected the same proposal of JMI Syringes, as it also has not taken enough time after being re-listed with the exchanges.

"It could be helpful for investors to take decision about the rights offer, if the companies took enough time after their listing and re-listing. That's why the regulator has turned down their rights offer proposals," the officials added.



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C&A Textiles Mills Ltd. (IPO) Subscription Date Start from November 09, 2014

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C & A Textiles Mills Limited (IPO) share of the money collected will be 45 Core. This company IPO subscription will be started from November 09, 2014 and will be closed on November 13, 2014. For NRB applicants, it will remain open till November 22, 2014. The face value of TK 10 per share value of company and offer price is TK 10 including a premium of taka Nil. This company share issue manager responsible for AFC Capital Limited and Imperial Capital Limited. Last financial year shows the EPS Taka 1.78 & Net asset value per share (NAV) taka 18.38. This Company Quantity of Share per lot 100. Total quantity of share: 45,000,000.
 

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